|
|
12-10-2018, 07:31 PM
|
#1
|
Registered User
Join Date: Mar 2017
Posts: 5,800
|
Santa Anita to debut "Group Bet (Horse Racing Roulette)".
Takeout will be 15.43%
Definitely not for me.
And I understand that novices are the group who they are targeting.
@BH_JBalan
Sooooo... Here's an interesting little tidbit on the upcoming meets at Santa Anita and Golden Gate. I missed it on the meet applications that were approved by the CHRB last month, and no CHRB members asked any questions about a brand-new wager on the menu.
Jeremy BalanVerified account @BH_JBalan
So what's a "Group Bet (Horse Racing Roulette)," you ask? I've tried to get an explanation on exactly how it will be deployed from multiple executives at The Stronach Group and have not received a response. And it's not in the meet application to the CHRB.
Jeremy BalanVerified account @BH_JBalan
In the absence of a response from anyone at The Stronach Group, here is the ARCI rule for the wager, which is cited in the meet application to the CHRB. It's kind of word soupy.
Jeremy BalanVerified account @BH_JBalan
So here's my best guess... Every race will have "red," "black," and "green" groups of horses to wager on to win (like roulette). So if there is a 7-horse field (1-3 might be red, 4-6 might be black & 7 might be green). Odds will be parimutuel, but in a standalone pool.
Last edited by Andy Asaro; 12-10-2018 at 07:39 PM.
|
|
|
12-10-2018, 08:14 PM
|
#2
|
Registered User
Join Date: Aug 2012
Posts: 8,798
|
Wait for a track bias and cash in.
|
|
|
12-11-2018, 01:03 PM
|
#3
|
Registered User
Join Date: May 2015
Posts: 234
|
Quote:
Originally Posted by Andy Asaro
So here's my best guess... Every race will have "red," "black," and "green" groups of horses to wager on to win (like roulette). So if there is a 7-horse field (1-3 might be red, 4-6 might be black & 7 might be green). Odds will be parimutuel, but in a standalone pool.
|
That's basically correct. On the groupings, my understanding is that they'll be based on morning line odds, so that red and black are as close as possible to a 50/50 proposition. While the green group will be all longshots.
So for example, if the morning line for a race is:
#1 - 5/2
#2 - 7/2
#3 - 12/1
#4 - 12/1
#5 - 9/2
#6 - 3/1
#7 - 15/1
Then the roulette groups would be something like:
Red - #1, #5
Black - #2, #6
Green - #3, #4, #7
Won't be a perfect science, and once money starts coming in and odds change, the groups will get totally skewed. Probably some value to be found by a smart bettor, just a question of whether there's enough liquidity to care. Think it's just TSG tracks and maybe XpressBet that will be wagering to start, with the other ADWs and totes taking a wait-and-see approach.
|
|
|
12-11-2018, 01:37 PM
|
#4
|
Registered User
Join Date: Aug 2012
Posts: 8,798
|
Quote:
Originally Posted by AlsoEligible
That's basically correct. On the groupings, my understanding is that they'll be based on morning line odds, so that red and black are as close as possible to a 50/50 proposition. While the green group will be all longshots.
So for example, if the morning line for a race is:
#1 - 5/2
#2 - 7/2
#3 - 12/1
#4 - 12/1
#5 - 9/2
#6 - 3/1
#7 - 15/1
Then the roulette groups would be something like:
Red - #1, #5
Black - #2, #6
Green - #3, #4, #7
Won't be a perfect science, and once money starts coming in and odds change, the groups will get totally skewed. Probably some value to be found by a smart bettor, just a question of whether there's enough liquidity to care. Think it's just TSG tracks and maybe XpressBet that will be wagering to start, with the other ADWs and totes taking a wait-and-see approach.
|
I actually think this is a very good idea. It could both attract show-betting type novices and offer some value to experts.
|
|
|
12-11-2018, 01:58 PM
|
#5
|
Registered User
Join Date: Mar 2017
Posts: 5,800
|
I can see a problem if the favorite is a late scratch or any horse in each group is scratched late and people aren't able to cancel in time.
|
|
|
12-11-2018, 02:09 PM
|
#6
|
Registered User
Join Date: Mar 2017
Posts: 5,800
|
|
|
|
12-11-2018, 03:20 PM
|
#7
|
Registered User
Join Date: Feb 2014
Posts: 4,520
|
Quote:
Originally Posted by AlsoEligible
That's basically correct. On the groupings, my understanding is that they'll be based on morning line odds, so that red and black are as close as possible to a 50/50 proposition. While the green group will be all longshots.
So for example, if the morning line for a race is:
#1 - 5/2
#2 - 7/2
#3 - 12/1
#4 - 12/1
#5 - 9/2
#6 - 3/1
#7 - 15/1
Then the roulette groups would be something like:
Red - #1, #5
Black - #2, #6
Green - #3, #4, #7
Won't be a perfect science, and once money starts coming in and odds change, the groups will get totally skewed. Probably some value to be found by a smart bettor, just a question of whether there's enough liquidity to care. Think it's just TSG tracks and maybe XpressBet that will be wagering to start, with the other ADWs and totes taking a wait-and-see approach.
|
They have a similar bet in Hong Kong.
Allan
|
|
|
12-11-2018, 03:21 PM
|
#8
|
@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
|
Another terrible bet takeout wise being introduced.
|
|
|
12-11-2018, 03:26 PM
|
#9
|
Registered User
Join Date: Jan 2006
Posts: 28,552
|
Are people PAID for with these wagering ideas?
__________________
"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
|
|
|
12-11-2018, 03:28 PM
|
#10
|
Registered User
Join Date: Feb 2014
Posts: 4,520
|
Quote:
Originally Posted by biggestal99
They have a similar bet in Hong Kong.
Allan
|
Its called the 3 Pick 1 where they group horses based upon the morning line
A1. Chalk(s)
A2. Mid price(s)
A3. everyone else
Payoffs were between 2.60 and 5.80 (for a 2 unit bet) this past Saturdays races.
Allan
|
|
|
12-11-2018, 03:28 PM
|
#11
|
Registered User
Join Date: Aug 2012
Posts: 8,798
|
Quote:
Originally Posted by cj
Another terrible bet takeout wise being introduced.
|
The takeout is pretty low. It's not like a show pool. There is one payout and one breakage.
|
|
|
12-11-2018, 03:29 PM
|
#12
|
Registered User
Join Date: Feb 2014
Posts: 4,520
|
Quote:
Originally Posted by thaskalos
Are people PAID for with these wagering ideas?
|
and to boot its a copycat.
Allan
|
|
|
12-11-2018, 03:35 PM
|
#13
|
@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
|
Quote:
Originally Posted by dilanesp
The takeout is pretty low. It's not like a show pool. There is one payout and one breakage.
|
For a three horse bet? No way that is low.
|
|
|
12-11-2018, 03:38 PM
|
#14
|
Registered User
Join Date: Aug 2012
Posts: 8,798
|
Quote:
Originally Posted by cj
For a three horse bet? No way that is low.
|
It's one betting interest! Like a 3 horse entry!
|
|
|
12-11-2018, 03:48 PM
|
#15
|
@TimeformUSfigs
Join Date: Jan 2002
Location: Moore, OK
Posts: 46,828
|
Quote:
Originally Posted by dilanesp
It's one betting interest! Like a 3 horse entry!
|
Yes, I get it. You have three betting options with a 15+% takeout. That is terrible for horseplayers. It is slightly better than the same takeout on a coin flip, but here you won't even know the odds you are getting until after the bell.
|
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
|